Forecasting Profitability (original) (raw)
2013, Social Science Research Network
AI-generated Abstract
This research examines the impact of improved long-range weather forecasts on agricultural profitability in developing countries, particularly focusing on the Indian agricultural sector. While existing insurance and risk management strategies assist farmers in mitigating weather risks, the study emphasizes the potential profitability gains derived from enhanced forecasting accuracy. It highlights the responses of farmers to accurate weather predictions and provides a statistical analysis of the Indian Meteorological Department's forecasting techniques, ultimately concluding that there is substantial potential for increased agricultural investment and profits when forecasts improve.
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